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Brighthouse Financial, Inc.（BHF）与Corebridge Financial, Inc.（CRBG）财务数据对比。点击上方公司名可切换其他公司
Corebridge Financial, Inc.的季度营收约是Brighthouse Financial, Inc.的4.0倍（$6.7B vs $1.7B）。Corebridge Financial, Inc.净利率更高（12.1% vs 8.1%，领先4.0%）。Brighthouse Financial, Inc.同比增速更快（40.2% vs 1.7%）。过去两年Brighthouse Financial, Inc.的营收复合增速更高（377.7% vs 7.4%）
Brighthouse Financial是总部位于美国北卡罗来纳州夏洛特的保险公司，核心业务为销售年金和人寿保险产品。截至2018年3月，该公司是美国规模领先的年金和人寿保险提供商之一，总资产达2190亿美元，有效保单及年金合约数量约260万份。
Corebridge Financial, Inc.是美国知名金融服务提供商，下设个人退休、人寿保险、退休服务、机构市场四大核心业务板块，可为客户提供年金、寿险产品、退休规划、财富管理等综合金融服务，满足不同群体的多元财务需求。
BHF vs CRBG — 直观对比
营收规模更大
CRBG
是对方的4.0倍
$1.7B
营收增速更快
BHF
高出38.5%
1.7%
净利率更高
CRBG
高出4.0%
8.1%
两年增速更快
BHF
近两年复合增速
7.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $6.7B |
| 净利润 | $137.0M | $814.0M |
| 毛利率 | — | — |
| 营业利润率 | 8.9% | 14.4% |
| 净利率 | 8.1% | 12.1% |
| 营收同比 | 40.2% | 1.7% |
| 净利润同比 | -79.6% | -62.5% |
| 每股收益（稀释后） | $1.84 | $1.44 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BHFCRBG
| Q4 25 | $1.7B | $6.7B | ||
| Q3 25 | $1.8B | $5.4B | ||
| Q2 25 | $871.0M | $2.7B | ||
| Q1 25 | $2.4B | $3.6B | ||
| Q4 24 | $1.2B | $6.6B | ||
| Q3 24 | $2.0B | $2.6B | ||
| Q2 24 | $1.4B | $3.7B | ||
| Q1 24 | $74.0M | $5.8B |
净利润BHFCRBG
| Q4 25 | $137.0M | $814.0M | ||
| Q3 25 | $479.0M | $144.0M | ||
| Q2 25 | $85.0M | $-660.0M | ||
| Q1 25 | $-268.0M | $-664.0M | ||
| Q4 24 | $671.0M | $2.2B | ||
| Q3 24 | $176.0M | $-1.2B | ||
| Q2 24 | $34.0M | $365.0M | ||
| Q1 24 | $-493.0M | $878.0M |
营业利润率BHFCRBG
| Q4 25 | 8.9% | 14.4% | ||
| Q3 25 | 32.2% | -0.8% | ||
| Q2 25 | 10.7% | -22.2% | ||
| Q1 25 | -14.8% | -24.0% | ||
| Q4 24 | 69.2% | 44.2% | ||
| Q3 24 | 9.3% | -60.9% | ||
| Q2 24 | 1.0% | 12.3% | ||
| Q1 24 | -829.7% | 17.4% |
净利率BHFCRBG
| Q4 25 | 8.1% | 12.1% | ||
| Q3 25 | 26.4% | 2.7% | ||
| Q2 25 | 9.8% | -24.1% | ||
| Q1 25 | -11.2% | -18.5% | ||
| Q4 24 | 55.7% | 32.8% | ||
| Q3 24 | 8.7% | -45.3% | ||
| Q2 24 | 2.4% | 9.8% | ||
| Q1 24 | -666.2% | 15.0% |
每股收益（稀释后）BHFCRBG
| Q4 25 | $1.84 | $1.44 | ||
| Q3 25 | $7.89 | $0.27 | ||
| Q2 25 | $1.02 | $-1.20 | ||
| Q1 25 | $-5.04 | $-1.19 | ||
| Q4 24 | $10.27 | $3.74 | ||
| Q3 24 | $2.47 | $-2.02 | ||
| Q2 24 | $0.12 | $0.59 | ||
| Q1 24 | $-8.22 | $1.41 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | — |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $6.8B | $13.2B |
| 总资产 | $241.8B | $413.5B |
| 负债/权益比越低杠杆越低 | 0.47× | — |
8季度趋势，按日历期对齐
现金及短期投资BHFCRBG
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.3B | — |
总债务BHFCRBG
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | — | ||
| Q1 24 | $3.2B | — |
股东权益BHFCRBG
| Q4 25 | $6.8B | $13.2B | ||
| Q3 25 | $6.4B | $13.5B | ||
| Q2 25 | $5.7B | $12.3B | ||
| Q1 25 | $5.2B | $12.0B | ||
| Q4 24 | $5.0B | $11.5B | ||
| Q3 24 | $5.5B | $13.6B | ||
| Q2 24 | $4.1B | $11.0B | ||
| Q1 24 | $4.2B | $11.6B |
总资产BHFCRBG
| Q4 25 | $241.8B | $413.5B | ||
| Q3 25 | $244.7B | $411.3B | ||
| Q2 25 | $242.6B | $399.2B | ||
| Q1 25 | $234.7B | $390.0B | ||
| Q4 24 | $238.5B | $389.4B | ||
| Q3 24 | $245.2B | $399.4B | ||
| Q2 24 | $237.4B | $382.5B | ||
| Q1 24 | $239.7B | $385.6B |
负债/权益比BHFCRBG
| Q4 25 | 0.47× | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | 0.56× | — | ||
| Q1 25 | 0.60× | — | ||
| Q4 24 | 0.64× | — | ||
| Q3 24 | 0.57× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | 0.75× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-3.0M | $1.9B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | -0.02× | 2.31× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流BHFCRBG
| Q4 25 | $-3.0M | $1.9B | ||
| Q3 25 | $117.0M | $24.0M | ||
| Q2 25 | $-1.0M | $-259.0M | ||
| Q1 25 | $146.0M | $375.0M | ||
| Q4 24 | $-118.0M | $1.5B | ||
| Q3 24 | $24.0M | $83.0M | ||
| Q2 24 | $334.0M | $-9.0M | ||
| Q1 24 | $-530.0M | $598.0M |
现金转化率BHFCRBG
| Q4 25 | -0.02× | 2.31× | ||
| Q3 25 | 0.24× | 0.17× | ||
| Q2 25 | -0.01× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.18× | 0.68× | ||
| Q3 24 | 0.14× | — | ||
| Q2 24 | 9.82× | -0.02× | ||
| Q1 24 | — | 0.68× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BHF
| Annuities | $926.0M | 55% |
| Runoff | $319.0M | 19% |
| Life | $298.0M | 18% |
| Other | $78.0M | 5% |
| Distribution Service | $66.0M | 4% |
| Accident And Health Insurance Segment | $2.0M | 0% |
CRBG
| Institutional Markets Segment | $2.9B | 43% |
| Life Insurance Operating Segment | $1.1B | 16% |
| Individual Retirement Segment | $1.0B | 16% |
| Other | $1.0B | 15% |
| Group Retirement Segment | $667.0M | 10% |
